IDFC

Press Releases

Mumbai;  August 4, 2010

IDFC consolidated net profit increased by 23% in Q1 FY 2011 over Q1 FY 2010

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Highlights of Q1 FY 2011

  • Profit After Tax of 335 crore in Q1 FY 2011 compared to 272 crore in Q1 FY 2010
  • EPS (diluted) increased from 2.10 per share to 2.56 per share : an increase of 22%
  • IDFC is notified as an Infrastructure Finance Company by the Reserve Bank of India
  • Gross Approvals tripled from 4,361 crore in Q1 FY 2010 to 13,046 crore in Q1 FY 2011
  • Gross Disbursements increased four times from 1,542 crore in Q1 FY 2010 to 6,204 crore in Q1 FY 2011
  • Balance sheet size as on June 30, 2010 - 38,612 crore : an increase of 25%
  • Net NPAs at 0.15% of outstanding loans; No new NPA during Q1 FY 2011
  • Net Interest income (NII) of 337 crore : an increase of 38%
  • Non Interest Income of 266 crore : an increase of 22%
  • Assets under management - USD 6.9 bn

At its 79th Board Meeting held today the Board of Directors of Infrastructure Development Finance Company Limited (IDFC) approved financial results for the period April 01, 2010 to June 30, 2010.


INCOME

Net Interest Income (NII) increased by 38% from 244 crore in Q1 FY 2010 to 337 crore in Q1 FY 2011.

  • Net Interest Income (NII) from infrastructure loans increased by 39% from 219 crore in Q1 FY 2010 to 304 crore in Q1 FY 2011.
  • Net Interest Income from treasury operations increased by 34% from 25 crore in Q1 FY 2010 to 33 crore in Q1 FY 2011.

Non Interest Income increased by 22% from 217 crore in Q1 FY 2010 to 266 crore in Q1 FY 2011

  • Fees from IDFC's asset management business decreased by 10% from 72 crore in Q1 FY 2010 to 65 crore in Q1 FY 2011.
  • Income from Investment banking and broking activity decreased by 9% from 40 crore in Q1 FY 2010 to 36 crore in Q1 FY 2011.
  • Income from principal investments increased by 77% from 68 crore in Q1 FY 2010 to ` 120 crore in Q1 FY 2011.
  • Loan related and other fees increased by 18% from 37 crore to 44 crore.

PROFITS

  • Profit before tax (PBT) increased by 20% from 372 crore in Q1 FY 2010 to 445 crore in Q1 FY 2011.
  • EPS (diluted) increased by 22% from 2.10 per share to 2.56 per share.
  • After accounting for tax and share of profit in associate company, the profit after tax (PAT) increased by 23% from 272 crore in Q1 FY 2010 to 335 crore in Q1 FY 2011.
  • The Company has utilized Securities Premium account under Section 78 of the Companies Act, 1956 in respect of zero coupon bonds issued after October 1, 2009. As a result the net profit Q1 FY 2011 was higher by 32.6 crore.

BALANCE SHEET

  • The balance sheet size grew by 25% from 30,880 crore as at June 30, 2009 to 38,612 crore as at June 30, 2010.
  • Net Loan book increased by 39% from 20,854 crore to 28,901 crore.
  • Exposure was 50,976 crore as on June 30, 2010.

For further details, please contact:

Mr. K.V. Venkatraman
Infrastructure Development Finance Company Limited
Tel: + 91 22 4222 2020

Email:venkat@idfc.com